Chile hope to join the O.E.C.D.

The Chilean government hopes to join the Organization of Economic Cooperation and Development sometime in 2009, Finance Minister Andres Velasco said Tuesday.

"In 2009, President Michelle Bachelet's government will likely be able to sign its entry into the exclusive group of the OECD," Velasco said during a presentation at a local business leaders' conference.

five countries, including Chile"OECD countries have given a green light for the start of accession talks with five prospective new members - Chile, Estonia, Israel, Russia and Slovenia," said a statement from the Paris-based organization. The OECD groups 30 of the world's most industrialized countries and acts as a government-funded policy adviser.better education programs and sustained growth.In his presentation to business leaders, the Chilean Finance Minister said the domestic economy was well prepared to weather international market turbulences thanks to its counter-cyclical fiscal policy and floating exchange rate that allow the economy to buffer external shocks.In a recent report, the OECD that despite a booming economy, income distribution continues to be one of Chile's biggest hurdles, like many other Latin American countries. But the organization said it can be overcome through better education programs and sustained growth.copper exports representing about 22%The organization praised Chile's macroeconomic policies, including the government's decision to save the windfall from rising copper prices in sovereign-wealth funds. Chile is the world's largest copper producer, with copper exports representing about 22% of the nation's gross domestic product. "As a result, economic activity is now much more resilient to the vagaries of commodity prices than in previous cycles," the OECD said in its recently released survey of the Chilean economy.

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